ARCPOINT ANNOUNCES US$1.6 MILLION NON-BROKERED PRIVATE PLACEMENT

For Immediate Release – Not for Dissemination in the United States or through U.S. Newswire Services

Greenville, South Carolina, Jan. 02, 2024 (GLOBE NEWSWIRE) -- ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint”) is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of up to US$1,600,000 (the “Offering”) through the sale of up to 16,000,000 subordinate voting shares of the Company (each, a “Share”) at US$0.10 per Share.

The net proceeds from the Offering will be used for operational expenses and other general corporate purposes.

The Company anticipates that certain directors, officers and insiders of the Company will purchase Shares in an aggregate amount of up to US$450,000 under the Offering, constituting, to that extent, a “related party transaction” as defined under Multilateral Instrument 61-101– Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities distributed in the Offering nor the consideration received for those securities, in so far as the Offering involves the directors, officers and insiders, exceeds 25% of the Company’s market capitalization.

The Offering is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
About ARCpoint Inc.
ARCpoint is a leading US-based franchise system providing drug testing, alcohol screening, DNA and clinical lab testing, corporate wellness programs, and employment and background screening, among other services. The Company is based in Greenville, South Carolina, USA. ARCpoint Franchise Group LLC, formed under the laws of the state of South Carolina in February 2005, is the franchisor of ARCpoint Labs and supports over 130 independently owned locations. ARCpoint sells franchises to individuals throughout the United States and provides support in the form of marketing, technology and training to new franchisees. ARCpoint Corporate Labs LLC develops corporate-owned labs committed to providing accurate, cost-effective solutions for customers, businesses and physicians. AFG Services LLC serves as the innovation center of the ARCpoint group of companies as it builds a proprietary technology platform and a physician network to equip all ARCpoint labs with best-in-class tools and solutions to better serve their customers. The platform also digitalizes and streamlines administrative functions such as materials purchasing, compliance, billing and physician services for ARCpoint franchise labs and other clients.